The State Bank of Pakistan on Wednesday notified that export finance facility for export of wheat will be available to exporters from private sector on post-shipment basis only, against shipments made up to June 15, 2007. The SME & Micro Finance Division of the SBP has issued a Circular for guidance of those who wish to avail export finance facility.
The circular says that pursuant to issuance of mechanism/procedure/condition for export of 500,000 tons wheat by the ministry of food, agriculture and livestock, following instructions are to be followed.
i) Export finance facility for export of wheat shall be available to the exporters of wheat, from private sector, under Part-I on post shipment basis only against shipments made up to June 15, 2007.
ii) The refinance loans so availed shall have to be repaid by June 30, 2007.
iii) Other instruction on the subject shall remain unchanged. These were circulated vide EPD Circular letter No. 4/EPP 1(51) Wheat-PER-2007 dated February 28, 2007.
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